With an eye to expand its presence in the renewables testing and certification market in the US, European technology company Association for Electrical, Electronic & Information Technologies (VDE) has acquired a 70% stake in Renewable Energy Test Center (RETC) for an undisclosed amount.
San Francisco, US based RETC is an independent test lab for solar PV and battery related products. Frankfurt, Germany headquartered VDE is acquiring the stake through its US presence VDE US Holdings Inc. The 2 companies have been collaborating previously since VDE is operating in the field of solar and energy storage markets for over 15 years.
VDE Group's CEO Ansgar Hinz believes this acquisition will enable the duo to provide a one-stop-shop for testing, inspection, certification and data services for their clients globally for solar and energy storage installations in utility scale solar and below.
Hinz added, "In addition, RETC's industry-leading testing capabilities are highly complementary to the OE/IE consulting services provided by our subsidiary, VDE Americas, Inc."
With VDE as its largest shareholder, RETC expects to expand and strengthen its operations leveraging on VDE Group's global consortium of laboratories in the renewable energy sector. RETC President and CEO Cherif Kedir said it will enable the lab to bring its bankability testing to a broader network of solar and energy storage manufacturers, investors and project developers. "Collectively with VDE, we can use this data to build better service products and design better programs. Arguably, this work has never been more important or essential," added Kedir.
Back in May 2021, US based independent testing lab PV Evolution Labs (PVEL) secured a partnership agreement with Netherlands based Kiwa Group to establish its physical presence in the European market and beyond (see PV Evolution Labs Joins Netherlands Based Kiwa Group).
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